Caisse launches bid for control of Cambridge
Article Abstract:
Caisse de depot et placement du Quebec, a Quebec-based pension fund, has began a takeover attempt of Cambridge Shopping Centres Ltd. The caisse, which already has a 35%-stake at Cambridge, has offered to pay C$12.50 for every share of 15 million of the company's 63 million outstanding shares, a deal worth C$185.5 million. Caisse, which tendered its offer following Loblow Cos. Ltd.'s announcement of its C$1.6-billion deal for the acquisition of Provigo, where the caisse is the biggest investor, will own 53% of Cambridge if it acquires all 15 million shares.
Comment:
Has began a takeover attempt of Cambridge Shopping Centres Ltd
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1998
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CREIT enters fray for Avista with rival bid
Article Abstract:
Canadian Real Estate Investment Trust (CREIT) and Avista have submitted a merger proposal that will create Canada's second-biggest real estate investment trust with over C$1 billion in assets and about C$600,000 in market capitalization. However, the union proposal, which comes in the middle of a hostile takeover bid by Summit REIT, has failed to receive the endorsement of Canada Life Assurance Co. Canada Life, the holder of a 16%- stake in Avista, has earlier supported the offer by Summit.
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1999
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TrizecHahn buys tower in Manhattan
Article Abstract:
TrizecHahn Corp acquired the 2.4-mil-sq-ft One New York Plaza located in the financial district of Manhattan, NY, for $390 mil. The purchase is part of the Toronto, Canada-based company's effort to spend C$2.3 bil on US real estate by Jun 1999 to avoid paying large capital gains taxes relating to the C$500 mil profit that the company made in 1998 on the sale of 20 shopping malls in the US.
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1999
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